Medical Insurance and Pharmacy Coverage
Medical Insurance and Pharmacy coverage is available to all eligible Principal Investigators and their spouses (“SP”), eligible domestic partners (“DP”) and eligible dependents. Individuals can choose between two plans provided through Blue Cross/Blue Shield of Kansas City:
- Blue Care HMO Plan - premium is partially paid by the participant
- Preferred Care Blue PPO Plan - premium is partially paid by the participant
Dental insurance is available to all eligible Principal Investigators and their spouses, eligible domestic partners, and eligible dependents. Coverage is through Blue Cross/Blue Shield of Kansas City and includes both in-network and out-of-network options:
- Preferred Care Dental Plan - premium is partially paid by the participant
Vision coverage is available to all eligible Principal Investigators and their spouses, eligible domestic partners, and eligible dependents through Vision Signature Plan. The premium is fully paid by the participant. Coverage begins first day of the month coinciding with, or following date of hire/eligibility.
Term Life Insurance and Accidental Death & Dismemberment coverage are provided at no cost to all Principal Investigators. Coverage is equal to two times an Investigator’s base annual salary, rounded to the next higher $1,000 not to exceed $500,000. Investigators may also purchase Additional Life Insurance on themselves, Spouse/Domestic Partner Life Insurance, and/or Dependent Life Insurance.
Tax Savings Plan
Principal Investigators may redirect a portion of their pay on a pre-tax basis for eligible medical, dental, vision or child/dependent care expenses:
- Health Flexible Spending Account – includes health expenses not covered by the medical, dental or vision plans to an annual limit of $2,550
- Dependent Care Flexible Spending Account – includes expenses for child/dependent care, while the investigator and the spouse are both working, to an annual household limit of $5,000
Note: A Domestic Partner’s expenses are NOT ELIGIBLE to be used for this plan.
Stowers Group Retirement Plan
Principal Investigators receive a contribution of 15% of their eligible annual salary each year into a retirement account as long as the contributions do not exceed limits fixed by law. Contributions will begin upon qualification of the Investigator as set forth in the plan.
403(b) Savings Plan
Principal Investigators may contribute between 1% and 50% of their salary each pay period, up to the allowable contribution set by law on a tax-deferred basis. The Plan allows individuals to elect salary deferrals in both Traditional (pre-tax) and Roth (after-tax) accounts.
Principal Investigators are entitled to major holidays. Holidays in 2022 include New Year’s Day, Martin Luther King Day, President’s Day, Memorial Day, Juneteenth, Independence Day, Labor Day, Thanksgiving Day, Day after Thanksgiving, Christmas Eve, Christmas, and Day after Christmas.
Time Away from Work
Principal Investigators may have time away from work for vacation, sick, and other appropriate leave with approval of the Executive Director/CSO.
Special Assistance Program
In their first term, all Principal Investigators are eligible to request funds to cover expenses associated with establishing themselves and/or their families in the Kansas City area. Funds may be requested annually for the duration of each eligible Investigator’s first term of appointment.
Short Term Disability
Short Term Disability is provided at no cost to Principal Investigators. Short Term Disability may only be used for the Investigator’s own personal illness or injury. Short Term Disability pays 100% of an Investigator’s base pay after an illness or injury exceeds five days (one workweek). Medical substantiation is required prior to receiving Short Term Disability.
Long Term Disability
Long Term Disability (LTD) is provided at no cost to Principal Investigators. Applications should be submitted during the initial 60-day elimination period covered by Short Term Disability or unpaid leave. Long Term Disability pays 60% of the Investigator’s monthly base pay (up to a maximum of $10,000.00 per month).
Supplemental Individual Disability Income
Principal Investigators may apply for Supplemental Individual Disability Income Insurance (“SIDI”). If approved, coverage is provided at no cost to the Investigator. This coverage supplements the Long Term Disability (LTD) group plan. The LTD group plan currently provides 60% of base salary to a maximum of $10,000 per month. The SIDI coverage will provide an additional 10% or a total of 70% of base salary to a combined maximum of $18,000 per month. An individual must be less than 65 years of age to be eligible to apply.
Coverage is guaranteed as long as:
- the Investigator is less than 65 years of age, and
- the Investigator is a U.S. citizen or permanent resident living and working in the U.S., and
- the Investigator is not currently disabled, and for the period of time commencing 90 days prior to and including the date of application the Investigator has continuously been at work on a full-time basis (i.e., at least 30 hours/week) performing all the duties of the occupation without limitation due to injury or sickness; or the Investigator has not been homebound or hospitalized due to injury or sickness, and none of the questions on the application are answered adversely.
Principal Investigators are entitled to take limited paid time off to attend funerals and for addressing personal affairs in connection with a family member’s death with approval of the Executive Director/CSO.
Employee Assistance Program (EAP)
An Employee Assistance Program is provided at no cost to Principal Investigators and individuals significant to them. New Directions, a nationally recognized EAP company, provides a free confidential EAP that includes the following services: phone consultants available 24/7; up to six face-to-face counseling sessions (per incident) per participant; interactive online resource covering a wide range of topics including Family Life, Stress, Finances, Legal, Health and Wellness, Emotional Well-being, and referrals to resources, services and support in the community.
Fitness Center/Recreational Facility
The Health Club located at the Stowers Institute is available for use by Principal Investigators 24 hours a day, 7 days a week. On each visit the Principal Investigator may have one guest who is not a family member and a reasonable number of family members as guests. The Investigator must be on the Institute premises while guest(s) use the Health Club and are asked to limit the number of guests during times of peak usage. A recreational facility is located at the Stowers Support Facility for team sports and other recreational activities.
Seminars and classes to enhance the physical and emotional well-being of Principal Investigators are offered throughout the year. On-site Flu Clinics and mobile mammography clinics are offered annually.
The Institute has free onsite parking in a covered garage adjacent to the research buildings.
The Institute has several regularly scheduled social events for Principal Investigators and members of their families.
Note: Additional benefit information and materials will be provided upon hire date. This overview is intended as a summary only.
Stowers Resource Management Inc. is the Plan Sponsor of the retirement and benefit plans for employees of Stowers Resource Management Inc., Stowers Institute for Medical Research, The Graduate School of Stowers Institute for Medical Research, and BioMed Valley Discoveries, Inc.